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#87639 - 06/12/03 04:15 PM AFT Loan Payments
KYAuditor Offline
100 Club
KYAuditor
Joined: Jan 2003
Posts: 138
Kentucky
Just curious--how do you treat AFT loan payments when the deposit account does not have sufficient funds to cover the payment? Do you transfer the payment on the day it is due and overdraw the account or wait until sufficient funds are available to cover the payment.
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Just my 2 cents worth--for what its worth!!

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General Discussion
#87640 - 06/12/03 04:26 PM Re: AFT Loan Payments
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,618
Galveston, TX
If you pay these into an overdraft, your safety and soundness examiners may frown on this practice, as it artificially deflates the past-due status of your loans.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#87641 - 06/12/03 05:06 PM Re: AFT Loan Payments
Tina A Sweet Offline
Diamond Poster
Tina A Sweet
Joined: Aug 2001
Posts: 1,033
Marysville, Ca.
Our system actually holds the payment function until the account has sufficient funds to cover. We use and ITI system.
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Tina A Sweet-Williams
AVP Special Assets
mailto:tsweet@goldcountrynb.com

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